{"id":887,"date":"2020-06-23T13:54:49","date_gmt":"2020-06-23T13:54:49","guid":{"rendered":"http:\/\/phphouses.com\/blog\/?p=887"},"modified":"2021-02-15T15:58:34","modified_gmt":"2021-02-15T15:58:34","slug":"experts-saying-future-home-prices","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/experts-saying-future-home-prices\/","title":{"rendered":"What Are the Experts Saying About Future Home Prices?"},"content":{"rendered":"
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What Are the Experts Saying About Future Home Prices?<\/p><\/div>\n

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A worldwide pandemic and an economic recession have had a tremendous effect on the nation. The uncertainty brought about by both has made predicting consumer behavior nearly impossible. For that reason, forecasting home prices has become extremely difficult.<\/p>\n

Normally, there\u2019s a simple formula to determine the future price of any item: calculate the supply of that item in ratio to the demand for that item. In housing right now, demand far exceeds supply. Mortgage applications to buy a home just rose to the\u00a0highest level in 11 years<\/a>\u00a0while inventory of homes for sale is at (or near) an all-time low. That would usually indicate strong appreciation for home values as we move throughout the year.<\/p>\n

Some experts, however, are not convinced the current rush of purchasers is sustainable. Ralph McLaughlin,\u00a0Chief Economist<\/em>\u00a0at\u00a0Haus<\/em>, explained in their\u00a0June 2020 Hausing Market Forecast<\/a>\u00a0why there is concern:<\/p>\n

\u201cThe upswing that we\u2019ll see this summer is a result of pent-up demand from homebuyers and supply-in-progress from homebuilders that has simply been pushed off a few months. However, after this pent-up demand goes away, the true economic scarring due to the pandemic will begin to affect the housing market as the tide of pent-up demand goes out.\u201d<\/em><\/p><\/blockquote>\n

The virus and other challenges currently impacting the industry have created a wide range of thoughts regarding the future of home prices. Here\u2019s a list of analysts and their projections, from the lowest depreciation to the highest appreciation:<\/p>\n